As an investor, staying ahead of the game means having the right tools, and I want to share one that's become indispensable in my team's own research, AlphaSense. It's the market intelligence platform trusted by 75% of the world's top hedge funds and 85% of the S&P 100 to make smarter, faster investment decisions. What sets AlphaSense apart is not just its AI-driven access to over 400 million premium sources like company filings, broker research, news, and trade journals, but also its unmatched private market insights. With their recent acquisition of Tegas, AlphaSense now holds the world's premier library of over 150,000 proprietary expert transcripts from 24,000 public and private companies. Here's the kicker. 75% of all private market expert transcripts are on AlphaSense, and 50% of VC firms on the Midas list conduct their expert calls through the platform. That's the kind of insight that helps you uncover opportunities, navigate complexity, and make high conviction decisions with speed and confidence. Ready to see what they can do for your investment research? Visit alphasense.com/invest to get started. Trust me, it's a tool you won't want to work without. New SEC update 31 CFR hits investment firms in under a year, and managers are getting ready for it now. If you think basic OFAC screening is enough, think again. You'll need continuous monitoring of your investors and all their beneficial owners across multiple watch lists, plus a comprehensive anti-money laundering program. Passthrough has already processed 50,000 LPs and built the complete solution. They handle everything from being your AML officer to monitoring suspicious transfers and even handling your annual audit and training requirements. All firms filing SEC Form ADVs, including those with VC exemptions, need to be 31 CFR compliant beginning January 1, 2026. Don't risk SEC deficiency letters, fines, or regulatory enforcement. Visit passthrough.com to get compliant now. Last year, we wondered what would happen if we condensed our best work and thinking into a publication once a quarter. The result was Colossus Review, a print, digital, and audio publication that represents our most essential of the ideas and people shaping our world in both business and investing. The response to issue one was extraordinary. The pilot issue sold out immediately, and then thousands more asked to join a wait list for the next issue. I've heard more about Colossus Review from the few thousand that saw it than I hear from many episodes that reach an audience of millions. Because of the response and because of how much we've loved creating it, we will be formally launching Colossus Review as a subscription publication in February. As a subscriber, you'll receive a new edition each quarter. You'll get a physical magazine, full digital access, and exclusive audio content that goes deeper than we've gone before, including a four and a half hour conversation with Graham Duncan from issue one that stands among the best discussions I've ever had and similar long form conversations in the future. To start, we will print limited numbers of each issue. So if you'd like to start receiving them, let us know at joincolossus.com/review. That's joincolossus.com/review. InvestorFieldGuide.com Patrick O'Shaughnessy is the CEO of O'Shaughnessy Asset Management. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of O'Shaughnessy Asset Management. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of O'Shaughnessy Asset Management may maintain positions in the securities discussed in this podcast. My guest this week is a good friend and business mentor of mine. Chaitan Pudagunta is a general partner at Benchmark Capital and has a remarkable track record of investing in early stage software businesses, including several like MuleSoft, MongoDB, and Elastic that went on to be public companies. Chaitan has been my key guide for understanding the world of enterprise software as we at O'Shaughnessy Asset Management have built an investment platform called Canvas. His advice has been critical to our early success in software. In this episode, we explore the history of software and software investing and go into the details on how to build and grow new software businesses. We discuss product, sales and marketing, recruiting, scaling, and everything in between. Please enjoy this great conversation with one of my favorite business and investing thinkers. Chathan, let's start with a very specific story. One of Benchmark's founders, Andy Ratcliffe, is famous for this non-consensus and right idea to make any money. And everyone nods their head at that. I think it's hard to realize what non-consensus feels like in the moment. So I'd love to start with the story of how you found the company MongoDB, which if you look it up today, is probably like an $8 billion market cap stock.